Zomato’s first-ever quarterly profit triggered sharp interest in the stock, with investors rushing to lap up shares as soon as the markets opened on Friday. Nearly 5.25 crore shares changed hands in the opening trade on the NSE, catapulting the stock price by over 8% to its 52-week high of Rs 93.65.
While the June quarter earnings were announced during the fag of Thursday's trading session, the stock responded immediately and jumped 2%. Following the results, Jefferies and Nuvama recommended a 'Buy', giving a fresh impetus to the stock.
India is the world’s third-largest Automobile market The Automobile industry produced a total 22.93 Mn vehicles including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers, and Quadricycles in April 2021 to March 2022. India holds a strong position in the international heavy vehicles arena as it is the largest tractor manufacturer, second-largest bus manufacturer, and third largest heavy trucks manufacturer in the world.

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